Regression Analysis Was Applied Between Sales Data (Y in $1000s)

question 31

Multiple Choice

Regression analysis was applied between sales data (y in $1000s) and advertising data (x in $100s) and the following information was obtained. ​ = 12 + 1.8x
​
N = 17
SSR = 225
SSE = 75
Sb₁ = .2683
​
Based on the above estimated regression equation, if advertising is $3000, then the point estimate for sales (in dollars) is

• A) $66,000.
• B) $5412.
• C) $66.
• D) $17,400.

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Definitions:

Unionization

The process of organizing the employees of a company into a labor union to seek collective bargaining rights and protect their interests.

Operations Management

The administration of business practices to create the highest level of efficiency possible within an organization, focusing on converting materials and labor into goods and services as effectively as possible.

Material and Human Resources

The tangible resources (like equipment and raw materials) and the workforce needed to carry out organizational operations.

Internal and External Customers

Refers to the individuals or entities within (internal) and outside (external) an organization that receive and are affected by its services or products.